DOCSLIB.ORG

COMMUNICATION with CUSTOMERS THROUGH SOCIAL NETWORKS – EVIDENCE from the REPUBLIC of CROATIA Višnja Bartolović1 Maja Validžić2

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
COMMUNICATION with CUSTOMERS THROUGH SOCIAL NETWORKS – EVIDENCE from the REPUBLIC of CROATIA Višnja Bartolović1 Maja Validžić2 COMMUNICATION WITH CUSTOMERS THROUGH SOCIAL NETWORKS – EVIDENCE FROM THE REPUBLIC OF CROATIA Višnja Bartolović1 Maja Validžić2 DOI: https://doi.org/10.31410/ITEMA.2019.159 Abstract: Consumer behavior and the buying decision process are influenced by social and personal factors. The subject of this paper is communication with customers through social networks in the eight largest Croatian companies. To this end, eight of the most well-known retail chains in Croatia were selected and analyzed in mid-2019, five of which are grocery stores and three are specialized drugstore chains. The paper aims to analyze the type and intensity of two-way communication (between retail chains and customers) through the social networks used by retail chains for promotional activities in the Republic of Croatia. Three social networks were analyzed: Facebook, Twitter, YouTube. A signif- icant proportion of retailers have recognized the benefits of advertising through social networks, but still, some have not recognized social networks as a platform for two-way communication between followers and retailers. Keywords: Social Networks, Retail chains, Customers. 1. INTRODUCTION arketing as a mechanism tries to identify customer needs and enable them to use products Mand services in an efficient and measurable manner. Online Marketing wants to provide information accessible to potential users and influence on their decision-making process of buy- ing goods at the market of final consumption (Nivetha & Sudhamathi, 2019). Nowadays, the business environment is changing at a rapid pace and managers are under tre- mendous pressure of exchanging new information. Communication must be as accurate and fast as possible with as less interference as possible. In everyday life, as in management, successful communication is one of the most important skills that can be practiced (Kraljević, Perkov, 2014). The role of promotion management is to effectively carry out promotional activities and the aim of promotional communication is to stimulate a reaction in the form of product purchases. For this process it is important to define the following aspects (Dobrinić, Gregurec, 2016): The target audience is determined by the marketing activities that precede the promotion as part of market segmentation, target market definition, market research, a) Communication (promotional) goals are highly dependent on overall marketing goals and are organizational and time aligned with them; b) Designing messages that, in addition to content, in the creation of the message, pay at- tention to the structure of the message and the source of the message (e.g. professionals or celebrities promote a particular product); 1 College of Slavonski Brod, Dr. Mile Budaka 1, Slavonski Brod, Croatia 2 College of Slavonski Brod, Dr. Mile Budaka 1, Slavonski Brod, Croatia 159 ITEMA 2019 Conference Proceedings c) The choice of media depending on the form of contact, the media are divided into per- sonal (face-to-face conversation, letter, telephone marketing, internet in various groups) and impersonal (billboards, posters, TV commercials, etc.). Since direct contact is es- tablished with personal communication, feedback is immediately obtained, while this is not the case with impersonal communication channels; d) Feedback. Communication is successful if the recipient understood the message in the desired way. In order for the company to know that the promotion has been success- fully done, feedback is collected (e.g. by surveys, but ultimately by the final customer response in the form of product purchases). It could be said that the best feedback is product sales statistics and a financial report. Advertising is a paid, mass form of communication. Considering the channels that are used, advertising is generally impersonal. The aim of advertising can be to inform the target audience and create awareness about the existence of a new product, its characteristics, usefulness, etc. Information activities are especially important in the phase of product launch. Other advertising goals are persuasion, reminder and additional confirmation (Kotler, Keller, 2008 p. 569). In the second half of the twentieth century, when marketing began to be taken as a serious and one of the key factors in the business of a company, a scientific discipline began to develop, studying the psychology and behavior of consumers. „Market experts have realized that the goals of the company will be easier to achieve if they consider the needs of consumers and offer them a range of products and services on the market that will better meet their needs” (Grbac, Lončarić, 2010, p. 16) Consumer behavior and marketing are two concepts that are inseparable from one another, because „marketers should know how consumers think, feel, and behave in relation to subjects, places, ideas, and other objects in a particular space and time” (Grbac, Lončarić, 2010, p. 18). After researching the consumer preferences, based on the results obtained, the marketing mix – color, size, packaging and main features of the product – is defined and determined. Next step is to define prices and pricing strategies, for example, to put a high price and promote the product as exclusive and approve periodic discounts or to put as lower price as possible, attract consumers on that way, etc. Given all the above, it is also determined in which stores the prod- uct should be available and what forms of communication to use to attract consumer attention (Grbac, Lončarić, 2010). „As a scientific discipline, consumer behavior is defined by Kotler and Keller who point out: Consumer behavior is the study of how individuals, groups and organizations select, buy, use and dispose of goods, services, ideas or experiences to meet their own needs and desires” Gr- bac, Lončarić, 2010, p. 19). When researching and studying customer behavior, the priority is not to monitor consumption, but rather behaving while making a purchase decision, during the purchase process itself, and to continue to use or discard the product (Grbac, Lončarić, 2010). For marketers, it is important to study the level of customer satisfaction of a product or service and why the customer is satisfied or dissatisfied to adapt marketing tactics and the product itself, all for the sake of greater consumer satisfaction and ultimately for the achievement of company goals. 160 COMMUNICATION WITH CUSTOMERS THROUGH SOCIAL NETWORKS – EVIDENCE FROM THE REPUBLIC OF CROATIA 2. COSTUMER BEHAVIOR AND BUYING DECISION PROCESS Consumer behavior in the interaction with the environment is constantly changing and no mat- ter how much is researched, there will always remain certain unknowns. In the modern age of rapid change and the use of computers, scientists have realized the importance of seriously researching the effects on customer behavior, so some theoretical models have been developed to help frame how certain stimuli affect an individual and thus analyze and „measure” them (Kesić, 1999). As noted earlier, purchasing decisions are influenced by a variety of components and factors, both external and internal. Purchasing decisions can be made rationally, based on careful con- sideration, but can also be made spontaneously. There are five stages to the decision-making process: cognizance of the problem, seeking information, evaluating alternatives, deciding to buy, and post-purchase behavior (Grbac, Lončarić, 2010, p. 141). Earlier it was stated that the customer has a specific motive to buy a product. The motive is mainly the desire to satisfy one of the needs or desires of the customer and in order to realize the purchase, the individual must be aware of that need. This is a phase that encourages the consumer to be active. Awareness of the problem is the discovery of the difference between the real state in which the consumer is in relation to the state in which he or she would like to be. The greater the difference between these two conditions, the greater the motivation to solve the problem. For example, if a person’s car breaks down constantly, they will be aware and motivated to buy a new car, and if they have a relatively good car, they will not easily decide on a better version of an existing one. Realizing of the person that he/she have the problem is influenced by perception, and perception is influenced by the internal and external factors mentioned in the previous chapters. It is the job of marketers to stimulate consumer recognition of the problem, that is, to create an idea of need, even if there is none. After becoming aware of the need, the consumer will start collecting infor- mation on the existence and availability of the product / service, product characteristics, as well as pricing information, and will evaluate alternative options based on the information collected. The consumer first begins with an internal search for information (he remembers everything he knows about that product category, looks at product brands, remembers his own experiences with the product, etc.), then, in order to collect additional information, he moves outside to col- lect information (Grbac, Lončarić, 2010). Consumer information sources are diverse and some are managed by marketers. Sources managed by marketers are „important sources for generating awareness and stimulating product interest among consumers” (Grbac, Lončarić, 2010, p. 148) In addition to marketing, personal sources such as family, friends, work colleagues, as well as previous product experience are an important source of information. This is a category of
Load more

Recommended publications
  • Report Name:Retail Foods Bulgaria
    Voluntary Report – Voluntary - Public Distribution Date: March 20,2020 Report Number: BU2020-0011 Report Name: Retail Foods Bulgaria Country: Bulgaria Post: Sofia Report Category: Retail Foods Prepared By: Alexander Todorov Approved By: Jonn Slette Report Highlights: Consistent growth in Bulgaria’s food and beverage retail market is driven by increased consumer confidence, declining unemployment, and growing incomes. The total number of retail outlets in Bulgaria in 2019 was 41,306. Modern retail food and beverage sales in 2019 grew by nearly five percent over 2018, and accounted for 55 percent of total food retail in value terms. U.S. exports with strong sales potential in Bulgaria’s food and beverage retail sector are distilled spirits, tree nuts, dried fruits, wine, snacks and cereals, beef meat, fish and seafood, sauces, spices, and pulses. THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Market Fact Sheet: Bulgaria Executive Summary Since 2016, annual Bulgarian GDP growth has Food Retail Industry been over three percent. Exports generate Bulgarian food retail sales reached $6.85 billion in almost 49 percent of Bulgaria’s GDP and are a pillar 2019. Modern retail sales accounted for of the economy. EU Member States are Bulgaria’s $3.77 billion (55 percent) and $3.08 billion in primary trading partners, although there is wide traditional channel. Total retail outlets were 41,306. variation in the balances of trade. In 2019, Bulgaria Food and beverage retail grew in 2019 on improved had a trade deficit in goods of about €1.72 billion consumer confidence and a better labor market.
    [Show full text]
  • Romania: Retail Food Sector
    THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Voluntary - Public Date: 2/6/2017 GAIN Report Number: RO1703 Romania Post: Bucharest Retail Food Sector Report Categories: Retail Foods Approved By: Russ Nicely Prepared By: Ioana Stoenescu Report Highlights: Over the last three years, Romania has seen strong positive growth, with encouraging developments in the economic and policy areas, becoming one of the most attractive markets in Southeastern Europe. After just a few notable events during 2015, the Romanian retail market experienced remarkable growth in 2016 reaching 2,000 stores operated by international retailers. As modern retail systems grow, exports of U.S. processed and high value foods to Romania will continue to expand. In 2015 U.S. agri- food exports to Romania increased by 45 percent from U.S. $96 million to U.S. $139 million over the last year. Romania's food sector is expected to be among the regional best performers during the next five years, with promising market prospects for U.S. exporters such as tree nuts, distilled spirits and wines. General Information: I. MARKET SUMMARY General Information Romania has been a member of the EU since 2007 and a member of NATO since 2004. Within the 28 EU countries, Romania has the seventh largest population, with 19.5 million inhabitants. Romania is presently a market with outstanding potential, a strategic location, and an increasingly solid business climate. Although there is the need for an exporter to evaluate the market in order to assess the business opportunities, exporting to Romania is steadily becoming less challenging than in previous years in terms of the predictability of the business environment.
    [Show full text]
  • Retailer Scorecard Summary
    WWF Programul Dunăre Carpați România Proiectul Fish Forward Dumitru Zosima nr 38, București Tel.: +4021 317 49 96 Fax: +4021 317 49 97 [email protected] wwf.ro/peste 22.02.2017 Summary Through the annual study ”Retailer Scorecard”, WWF-Romania evaluates the environmental performance of the main food retailers present on the Romanian markets, by analysing their sustainability policies and the certified and/or local products available. This is the fifth edition of the Retailer Scorecard report and it is encouraging to see that more and more retailers take precaution regarding environmental responsibility through the products they offer. The study includes the top 11 food retailers in Romania. In 2016, those were: Auchan, Billa, Carrefour, Cora, Kaufland, Lidl, Mega Image, Metro, Penny Market, Profi and Selgros. The results from 2016’s edition show improvements of the results for the majority of participants which demonstrate the increasing interest the retailers have in this sector. Regardless, the progress is rather slow as the best scores are still meeting half of the maximum possible. The most important results and observations from the 2016’s Retailer Scorecard edition are: ● Five out of the 11 retailers have obtained scores of more than 50%. ● None of the evaluated retailers has a transparent and complete communication with their clients about the purchasing policies which favor environmental friendly products. The only information available regarding this subject can be found on their web pages - about specific initiatives in Romania. The majority of the information concerns the international group they belong to. Summing up, there isn’t enough information to help the consumer make the right decision.
    [Show full text]
  • Download Case Study
    Making the most of margins with one of Europe’s largest ESL deployments “It’s a common challenge faced by all large retailers – how to make the number of price changes that you want, without tying your staff up all day. Displaydata’s ESLs have transformed the way we run the fruit and vegetable areas of our stores: we can reduce prices in just a few moments, on any shelf, anywhere – all centrally managed. This flexibility allows us to use price reductions more strategically to protect margins and reduce waste. And, our staff are freed up to focus much more time on our customers. The time and cost savings from using Displaydata’s ESLs will deliver a satisfying return on investment in a short time.” Steffen Hartelt, Business Consulting Vertrieb, Kaufland Group Opportunity Known as an innovator – in terms of its overall offering, and use of technology – Kaufland wanted Kaufland Group is a German hypermarket chain to enhance the way it sells and markets perishable owned by the Schwarz Group – one of Europe’s goods. Its key goal was to find a more agile way to largest grocery retailers. Kaufland operates in seven promote offers, react to competitors’ price changes countries across the continent with 1,270 stores and and increase the frequency of price markdowns over 148,000 employees. It offers a wide range of to protect margins. It also looked to reduce the goods with up to 60,000 products. The focus is on amount of time staff spend manually adjusting freshness for its fruit and vegetables, dairy products, labels, to provide a better service to customers and meat, sausage, cheese and fish lines.
    [Show full text]
  • Structural Changes in Food Retailing: Six Country Case Studies
    FSRG Publication Structural Changes in Food Retailing: Six Country Case Studies edited by Kyle W. Stiegert Dong Hwan Kim November 2009 Kyle Stiegert [email protected] Dong Hwan Kim [email protected] The authors thank Kate Hook for her editorial assistance. Any mistakes are those of the authors. Comments are encouraged. Food System Research Group Department of Agricultural and Applied Economics University of Wisconsin-Madison http://www.aae.wisc.edu/fsrg/ All views, interpretations, recommendations, and conclusions expressed in this document are those of the authors and not necessarily those of the supporting or cooperating organizations. Copyright © by the authors. All rights reserved. Readers may make verbatim copies of this document for noncommercial purposes by any means, provided that this copyright notice appears on all such copies. ii Table of Contents Page CHAPTER 1: INTRODUCTION AND LITERATURE REVIEW 1 1. Introduction 1 2. Outline of the Book 1 3. Impact of Dominant Food Retailers: Review of Theories and Empirical Studies 3 3.1. Market Power vs. Efficiency 3 3.2. Vertical Relationship between Food retailers and Food producers: Vertical Restraints, Fees and Services Enforced by Retailers 5 Fees and Services 5 Coalescing Power 8 3.3. Market Power Studies 8 References 17 CHAPTER 2: THE CASE OF AUSTRALIA 21 1. Introduction 21 2. Structure of Food Retailing in Australia 21 2.1 Industry Definition of Food Retailing 21 2.2 Basic Structure of Retail Food Stores 22 2.3 Food Store Formats 24 2.4 Market Share and Foreign Direct Investment 25 3. Effects of Increased Food Retail Concentration on Consumers, Processors and Suppliers 28 4.
    [Show full text]
  • Retail Foods Report Poland
    THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Voluntary - Public Date: 12/31/2013 GAIN Report Number: PL1343 Poland Post: Warsaw Retail Foods Report Report Categories: Retail Foods Approved By: Michael Henney, Agricultural Attaché Prepared By: Agnieszka Zmudzka, Intern; Jolanta Figurska, Agricultural Marketing Specialist Report Highlights: Poland’s retail market is very dynamic adjusting to the ever changing consumer desire to advance their lifestyle. Discount stores are an important force on the market given the soft economy, while convenience stores, hypermarkets, supermarkets are becoming stronger. U.S suppliers face stiff competition for the consumer’s attention from products of local and other EU countries. U.S. food products holding best near-term prospects include: wines, distilled spirits, seafood, prunes, and cranberries etc. The presented information provides a general overview of the internal retail market and enables analysis of activities of trade entities. Basic information includes economic indicators, retail sales, structure of retail sales, prevailing organizational forms on the market, and major retailers in the market. Data presented in the publication are obtained from credible sources, such as Polish Statistical Office or from prominent press publishers, carrying out their independent researches. Table of Contents Section One: Market Overview ...................................................................................................3
    [Show full text]
  • Euro Food Agency Presentation
    Euro Food Agency Presentation We are Euro Food Management Romania Agency with great experience in sales of Food (FMCG sector) to key accounts and big resellers on Romanian territory and Republic of Moldova. Our team has great expertise in B2B and consist of: Cristian IONITA,CEO , with 20 years practice in retail business (EN,FR) Cristian FAGADAR, administrator, with 20 years practice in sales and production (EN,FR) Dan BOUREANU , ASM Moldova ,with 15 years practice in retail and Food production (EN) Please accept my proposal to be represented by our company as sales commission Agency (find legal guidance for doing international business http://www.intracen.org ) Keep in mind that I offer to you sales to International Key Accounts located in Romania (more than 1700 shops) and big resellers. Targeting chains stores is useless through an intermediate company ,reseller or distributor company because of operational costs and difference in selling policy. If your products will be placed on IKA shelves by an reseller or distribution company this items will be expensive with 100% then origin and sales will be very low. For that purpose we established and register you Romanian Branch with minimum cost ,effort and time from your company. Your Romanian Branch will sell to All IKA chain stores and Big Resellers on Romanian + Republic of Moldova territory. Your goods can be branded , private label or bulk products . All contracts will be signed between clients and your Romanian Branch and logistic services will be provided by multinational companies (DELAMODE , Tibett ,Norbert- Dentressangle ). Big chains shops develop very fast in Romania ( http://ika.magazinulprogresiv.ro ).
    [Show full text]
  • Trends in the Top Retail Trade in Romania
    Scientific Papers Series Management, Economic Engineering in Agriculture and Rural Development Vol. 19, Issue 1, 2019 PRINT ISSN 2284-7995, E-ISSN 2285-3952 TRENDS IN THE TOP RETAIL TRADE IN ROMANIA Agatha POPESCU University of Agricultural Sciences and Veterinary Medicine Bucharest, 59 Marasti Boulevard, District 1, 011464, Bucharest Romania, Phone: +40213182564, Fax: +40213182888, Email: [email protected] Corresponding author: [email protected] Abstract The paper analyzed the retail trade in Romania during the last decade, 2008-2017, pointing out the performance achieved by the top 10 retailers Kaufland, Carrefour, Lidl, Auchan, Mega Image, Profi, Metro, Selgros, Rewe and Cora Hypermarket, based on the number of stores, turnover, net profit, market share and average number of employees. Romanian market proved to be a good business environment for retailers as long as consumption is increasing determined by the growth of wages and reduction of VAT. Both hypermarkets, supermarkets, discount stores and minimarkets have appeared on Romania's map and their number continue to grow as expected in the near future. The number of square meters commercial space per inhabitant is enough high as long as Romanians like shopping. For this reason, the retailers have to develop new strategies to strengthen their business and cover much better consumers' needs. Important efforts should be made to develop the minimarket network in the smaller cities and even in the rural localities, the commercial space should be modernized and offer a pleasant and attractive environment for shopping, e-commerce should be extended as a modern purchasing alternative, the offer should be diversified including more Romanian products as preferred by consumers, organic products should be more visible on the shelves which have to offer healthy products to the clients, a more intensive advertising should be useful for a better information of the consumers and for increasing sales and profit of the retailers.
    [Show full text]
  • DE POOLSE RETAILSECTOR Voeding Publicatiedatum / 25.10.2018
    DE RETAILSECTOR IN POLEN FLANDERS INVESTMENT & TRADE MARKTSTUDIE Marktstudie /////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// DE POOLSE RETAILSECTOR Voeding Publicatiedatum / 25.10.2018 //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Guido Scharpé Vlaams Economisch Vertegenwoordiger Flanders Investment & Trade - Warschau Ambasada Belgii Przedstawicielstwo Ekonomiczne i Handlowe Flandrii Al. Ujazdowskie 51 | 00-536 Warszaw | Poland T: +48 22 584 73 40 | E: [email protected] www.flandersinvestmentandtrade.com INHOUD 1. INLEIDING ................................................................................................................................................................................ 3 1.1 Algemene achtergrondinformatie in verband met de Poolse retailmarkt 3 1.2 Demografische ontwikkeling en koopkracht 3 2. LEVENSMIDDELENHANDEL ........................................................................................................................................... 4 2.1 TRENDS 6 2.1.1 Elektronische handel – e-commerce 6 2.1.2 Huismerken 6 2.1.3 Groeiend bewustzijn en stijgende verwachtingen van de consument 7 2.1.4 Gezondheid en wellness 7 2.1.5 Glutenvrije voeding 7 2.1.6 Convenience/Kant-en-klare maaltijden 8 3. DE BELANGRIJKSTE SPELERS IN POLEN ...............................................................................................................
    [Show full text]
  • Press Release 53113 Bonn Phone: +49 228 9499-215/214 Fax: +49 228 9499-143
    Press Office Kaiser-Friedrich-Str. 16 Press release 53113 Bonn Phone: +49 228 9499-215/214 Fax: +49 228 9499-143 www.bundeskartellamt.de 22 December 2020 Bundeskartellamt / Food Retail Sector Kaufland can acquire 92 Real stores subject to conditions – Globus can acquire 24 Real stores Bonn, 22 December 2020: The Bundeskartellamt has today cleared the acquisition of up to 92 Real stores by Kaufland, which is part of the Schwarz Group, from SCP Retail S.àr.l., subject to conditions. The authority has at the same time cleared the acquisition from SCP of up to 24 Real stores by the Globus Group. Kaufland is part of the Schwarz Group to which the Lidl food retail chain also belongs. With a turnover of around 113 billion euros worldwide the Schwarz Group is by far the largest food retailer in Europe. Its turnover in Germany amounts to approx. 39 billion euros. Kaufland operates approx. 670 self-service department stores and superstores. With its 39 regional companies Lidl operates a distribution network of approx. 3,200 stores and is the largest discounter worldwide with altogether 10,800 outlets in 32 countries. SCP, which is controlled by the Russian investment company Sistema, acquired all of the previously 276 Real stores from Metro. In 2018/2019 the Real stores achieved a turnover of approx. seven billion euros. Globus operates 47 self-service department stores in Germany and achieves a turnover of 4.5 billion euros in Germany (in total 6.8 billion euros worldwide). The acquisition of food retail businesses always affects two different sides of the market: The sales side, where retailers serve consumers, and the procurement side, where suppliers serve retailers.
    [Show full text]
  • Talking Plainly. Acting Sustainably
    Talking plainly. Acting sustainably. Sustainability Report Fiscal Years 2018 – 2019 Talking plainly. Acting sustainably. About This Report with the exception of the key personnel figures from the annual financial statement (indicated accordingly). Countries which were undergoing For the first time, this Sustainability Report a startup phase during the reporting period in- provides an overview of the strategic basis of clude Lidl Serbia (in FY 2018; first store opening and management approach to sustainability in fall of 2018), Kaufland Republic of Moldova in the Schwarz Group. To this end, we are (in FY 2018 and 2019; first store opening in providing information on how we organize fall of 2019), Kaufland Australia, Lidl Estonia, and implement our financial, ecological, and and Lidl Latvia (all in FY 2018 and 2019). social responsibility within our day-to-day activities. The Schwarz Group is made up of This report was produced in accordance with the GRI 102-1 | 102-10 the Kaufland and Lidl retail divisions, the GRI standards: “core” option. Our report also GreenCycle environmental division including its shows which of our activities are contributing PreZero sales brand, Schwarz Produktion, and to the Ten Principles of the UN Global Compact Schwarz Dienstleistungen as well as other (UNGC) initiative; corresponding contents are affiliated companies and national organizations indicated with “ UNGC ”. Moreover, a corre- (see p. 8). The information contained in this sponding overview appears on p. 23 and in report refers primarily to the overall Schwarz Group the GRI Content Index. This report relates to and overall management approaches. In order the period from March 1, 2018 to February 29, to provide a comprehensive overview of our 2020 and thus comprises two complete fiscal activities, the report has also been supplemented GRI 102-12 | 102-50 102-52 102-54 years.
    [Show full text]
  • Global Powers of Retailing 2021 Contents
    Global Powers of Retailing 2021 Contents Top 250 quick statistics 4 Global economic outlook 5 Top 10 highlights 8 Impact of COVID-19 on leading global retailers 13 Global Powers of Retailing Top 250 17 Geographic analysis 25 Product sector analysis 32 New entrants 36 Fastest 50 38 Study methodology and data sources 43 Endnotes 47 Contacts 49 Acknowledgments 49 Welcome to the 24th edition of Global Powers of Retailing. The report identifies the 250 largest retailers around the world based on publicly available data for FY2019 (fiscal years ended through 30 June 2020), and analyzes their performance across geographies and product sectors. It also provides a global economic outlook, looks at the 50 fastest-growing retailers, and highlights new entrants to the Top 250. Top 250 quick statistics, FY2019 Minimum retail US$4.85 US$19.4 revenue required to be trillion billion among Top 250 Aggregate Average size US$4.0 retail revenue of Top 250 of Top 250 (retail revenue) billion 5-year retail Composite 4.4% revenue growth net profit margin 4.3% Composite (CAGR Composite year-over-year retail FY2014-2019) 3.1% return on assets revenue growth 5.0% Top 250 retailers with foreign 22.2% 11.1 operations Share of Top 250 Average number aggregate retail revenue of countries where 64.8% from foreign companies have operations retail operations Source: Deloitte Touche Tohmatsu Limited. Global Powers of Retailing 2021. Analysis of financial performance and operations for fiscal years ended through 30 June 2020 using company annual reports, press releases, Supermarket News, Forbes America’s largest private companies and other sources.
    [Show full text]